Shanghai to Build Massive Data Trading Platform to Boost Tech Hub Status
In an interview with the South China Morning Post, Chief executive of Shanghai Data Exchange Corp Keven Tang Qifeng revealed that his company is planning to set up a massive electronic data trading platform which will boost Shanghai’s profile as a major tech hub.
He added that even today, there is already a strong demand for trading of data sets, and the company is looking to capture around one -third of the national trading volume by 2020 where the market is expected to grow to around $15 billion.
In addition to its efforts to stay at the forefront of China’s tech innovation, Shanghai will also be supporting tech startups with multibillion-yuan funds backed by the government. It is also studying incentives such as easier access to funds, lower taxes and office costs to attract more digital businesses.
Source: Yahoo News SG